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Entrepreneurs to compete for $50,000 in Comerica Hatch Detroit Contest

Entrepreneurs, take note: The Comerica Hatch Detroit Contest is back for its fourth year.

Launched in 2011, the contest invites entrepreneurs to submit a business plan in hopes of winning a $50,000 pot of seed money from flagship sponsor Comerica Bank. That money is used to bring paper dreams to brick-and-mortar reality.

The grand prize is more than the money pot, according to Hatch. The winner will also receive a package of services from Hatch and its partners, including legal services, advertising, accounting and IT support.

“In total, the package is closer to $100,000,” said Vittoria Katanski, executive director of Hatch Detroit. “A lot of people, when they get involved in business, think about the bottom line and don’t realize the other [expenses] they may have.”

Katanski said she believes it is the IT support and other services that can really give start-ups that extra push to get the doors open. Hatch is attempting to expand the package of extras to include mechanical engineering assistance.

In addition to the award money, the Detroit Lions have pledged $50,000 to assist alumni of the contest. Alumni that are open for business but need extra support can fill out a general grant request, which will be considered by Hatch’s board of directors.

Since 2011, 22 Hatch Detroit alumni have opened or are in the process of opening shops.